Pi Network Explodes 130%: Will $2 Be Cracked After Consensus 2025?

Pi Network’s token surged over 130% to $1.60 this week, driven by an $85M purchase by OKX and anticipation for a 14 May 2025 announcement at Consensus 2025, with technical indicators like RSI and MACD signaling potential to hit $2.
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Key Insights

  • The Pi network token has more than doubled this week, along with the rest of the crypto market.

  • According to CoinMarketCap and TradingView, Pi recently hit the $1.6 zone and appears very poised to hit the $2 price level in May.

  • One major reason for this rally could be the $85 million Pi purchase from OKX.

  • Another reason could be the expected announcement from the Pi network administrators on 14 May.

After spending weeks under relatively flat price action, Pi network has staged a major comeback.

The token has jumped by over 130% over the last week and is now the center of attraction between both retail and institutional investors. 

The speculation is now mounting ahead of a major ecosystem announcement and an increase in whale activity.

Here’s why many are wondering whether Pi can indeed break past the $2 resistance in May.

From All-Time Lows to Bullish Momentum

The recent Pi rally shows a major comeback for the token which had initially crashed by around 85% after its listing.

The token crashed to a new low of around $0.4 over the last few months, and hit its bottom on 5 April.

At the time, many believed the hype around the project to have ended.

However, early May has set a few things straight.

The first signs of recovery came on 8 May, when PI formed a higher low and broke through the $0.75 resistance the next day. 

The break above the $1.4 price level

The break above the $1.4 price level

This breakout triggered the ongoing uptrend and pushed prices towards the $1.60 zone, which is way above the resistance level at $1.40. 

This level holds some historical importance as both a horizontal resistance zone and a major Fibonacci retracement area.

However, Pi was unable to maintain its standing above $1.4.

Still, this would mean that if PI successfully breaks and closes above $1.40, the next stop could very easily be $2, before a move towards the cryptocurrency’s all-time high of $2.99 from February.

Technical Indicators Show Strength

Several technical indicators support the bullish outlook for PI. 

For example, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both rising on the daily timeframe.

This shows that there is some strong momentum behind the cryptocurrency’s latest push towards the upside.

The RSI/MACD on the daily timeframe

The RSI/MACD on the daily timeframe

The RSI is also approaching overbought territory, which might indicate some profit-taking behavior among crypto users.

Still, the RSI has yet to show any bearish divergence, which would usually be a signal for a pullback.

On the shorter timeframes, the price of Pi shows that it is strongly poised to continue further upwards after the ongoing pullback, unless a break below $0.75 level occurs.

Whale Activity Hits New Highs

A massive on-chain transaction has also added fuel to the fire. 

A wallet linked to OKX reportedly bought a massive 70 million Pi tokens, worth around $85 million. 

This move has now brought OKX’s holdings to more than 155 million Pi and makes the exchange the largest known PI holder across centralized exchanges.

While nothing has been announced yet, pressure continues to mount on Binance and ByBit for the next listing.

Overall, the biggest reason behind the rally might have been the highly expected Pi announcement scheduled for 14 May.

This update is set to be revealed during the Consensus Conference 2025 in Toronto with Dr. Nicolas Kokkalis, the founder of Pi Network  expected to speak at the event.

With all of these updates taking shape over the months Pi network could indeed be headed for levels above the $2 mark and even the $3.14 zone.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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